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Narodniy Bankir

Many Ukrainians believe that a bank is difficult. Make sure that the bank is simple, convenient and affordable to everyone with the “Narodniy Bankir” project from PUMB!

We collect the most relevant financial advices for you and answer common questions. We explain in simple language how to manage the money effectively and navigate the financial market. And also we tell the stories of customers which can help you in making decisions.

Musa Magomedov: "The reliability of the bank is checked in hard times"
08 April, Monday
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Musa Magomedov: "The reliability of the bank is checked in hard times"

Avdiivka Coke Chemical Plant – one of the largest coke-chemical enterprises in Europe – during the active phase of hostilities was regularly subjected to shelling, suffered material losses and damages, was forced to suspend work due to damage as a result of military attacks. Today, despite all the difficulties, the company works at full capacity and provides Ukraine with high-quality coke and chemical products, and almost 4,000 of its employees have stable work and worthy working conditions.

In the interview for “Narodniy Bankir”, the general director of the enterprise, Musa Magomedov, tells how the factory and the city were restored and how a reliable bank helps the company to operate.

​Musa Magomedov 
Biographical information

He received three higher educations: at the Donetsk Institute of Soviet Trade (University of Economics and Trade), the International Institute of Management in Kyiv, the National Technical University "Kharkiv Polytechnic Institute".

He has 16 years of experience in senior positions, including the position of general director of Zaporizhkoks.

In 2011 he became the winner of the "Man of the Year" national program in the "Industrialist of the Year" nomination.

Since 2012 – general director of Avdiivka Coke Chemical Plant of the Metinvest Group.

Hobbies: extreme sports.

The revival of the plant after the active phase of hostilities is, without exaggeration, a feat for both the leadership and the entire team. But without timely financial support, it would be much more difficult to achieve quick results. How did the bank contribute to the work of the enterprise?

Indeed, in order for people to continue working in difficult conditions, the financial component is extremely important. We provided people with food and everything they needed, paid their wages on time. Without rallying, we certainly would not have survived. We constantly felt the support of Metinvest Group. Most importantly, we understood: we were not left, not betrayed. Thanks to this we kept the team. After all, what is a plant without a team? Pile of metal. Hours, when our ATMs did not work, can be counted on fingers. Solitary instance of wage arrears, which arose in case of insuperable circumstances, lasted only a few days. I remember well how PUMB armored vehicles with the salary for our workers were waiting until the shelling was over in order to replenish the ATMs. An important task of a financial institution is to be together with its client, take care of him even in difficult emergency conditions. And PUMB coped with it.

What are the advantages of serving your employees in the framework of the PUMB salary project?

The salary package of services provides a payment card on which salary is credited, a personal account, as well as SMS-banking, Internet-banking and other services. A mini-branch of PUMB is located on the territory of the plant, in which employees are serviced, and also there are five ATMs. Among the advantages, above all, convenience for people. After all, a bank specialist is constantly there, no need to waste time, go somewhere. And cash can be obtained at an ATM at any time. Despite the fact that today almost everywhere you are able to pay by a card, some people still prefer cash. Since both the plant and ATMs work around the clock, I myself, if necessary, withdraw money from the card at night, guaranteed without queues! (Laughs)

However, advanced banking technologies are also being mastered by us, especially the young people. I often see young employees using Apple Pay and Google Pay e-wallets, PUMB Online Internet-banking and mobile banking.

Social responsibility is among the core values of your business. So, by the efforts of the factory team, Avdiivka was completely revived. What other factors helped to restore the city quickly?

First of all, helped granted us special powers. At first, all work was financed only by Metinvest Group. The procedures were significantly simplified, funding was provided on time and in full. Thanks to this, much have been done, especially when only we and the military remained in the city. High-rise buildings, private houses, the entire infrastructure, and social facilities were restored in Avdiivka stricken by shelling; renovated hospital, kindergartens, schools; in the house held warm. With the support of DTEK holding specialists, the power lines have been repaired. The damaged sewer network was launched in time, which saved the city from the epidemic. All this, I repeat, was done together. People did not give up, but they said: "This is our city." And united!

You grew up in a big close-knit family, you know a sense of responsibility to your loved ones. Which bank tools do you trust support for family well-being?

First of all, we actively use payment cards, without which neither I, nor mother, nor wife are able to imagine life. I willingly put free funds on deposit – and do not think about inflation. My favorite service is Internet-banking, my personal daily financial instrument! It is convenient and simple, saves time and strength. Recently, I was even offered a special cermet card as a gift. When I asked what kind of merit it was, I received the answer: I have been working with the bank for a long time, I am an honorary client and I am among the most active users of Internet banking in terms of the number of transactions.

Do you teach your children financial literacy? What are the basic principles you instill in them?

My son is 18 years old, he learns to be a financier. When I ask: "Do you need any money?", In response, I hear: "Dad, I do not." With the eldest daughter is more difficult – she always has some projects, "plans to seize the world." (Laughs.) We discuss ideas with her, the possibility and necessity of their realization, the value of the result. The main principle in education is to help children understand what money is and how hard to earn. Telling them how many hours you need to work to earn a certain amount. Teaching them to be reasonable in consumption. After all, there are many things that have no real value, but some people are constantly trying to sell them to us with the help of advertising. Children must clearly distinguish what has true value in life and what does not.

When did the story of your relationship with PUMB begin?

A long time ago. I am a PUMB client since the foundation of the bank – this is 1991. The first product of the bank, which was used by the company in which I worked, was factoring. And in my first personal account, I still have about $ 60. I do not withdraw this money, let it be kept as a memory of the first installment. (Laughs)

What are your criteria for choosing a bank? What does prove its reliability for you?

In stable times, you are able to work with any bank. How reliable the bank is in reality and how it effectively conducts business becomes clear only in times of hardship and crisis — take at least 2008, 2014, and 2015. It is also important the number of enterprises serviced by the bank. Which group of companies it belongs to. This determines its sustainability, and here PUMB is one of the leaders. I also consider it advisable to trust the bank ratings that are regularly compiled by reputable Ukrainian and Western rating agencies.

What can you advise those who are just going to work with the bank? What should they pay attention?

The first is innovations. From the first day of our cooperation, PUMB offered products that met modern business requirements.

The second is convenience. Elementary things: so that within the reach there are comfortable compartments, a certain number of operational ATMs. A reliable bank should always be with its client.

The third is the history. Including how the bank coped with crises.

Finally is the service. A subjective moment, but in PUMB I always liked the quality of service at all levels.

Did you experience any curious payment situations while travelling?

In Europe, I do not remember that there were any difficulties somewhere. Once in Nepal, when we tried to climb Everest and had already reached an altitude of more than 5,000 meters, I was completely overwhelmed by mountain sickness, so there was no strength to go down. We decided to call a helicopter. Cash was not enough, all the money - on the cards. The helicopter refused to remove us from the mountain because cashless payments are not provided. I had to go on foot. Just fashionable pills for the bad state of health helped, which shared the Japanese tourists ... My advice is: if you have an extreme trip, always keep your cash with you.

Is it more convenient for you to pay abroad by a payment or a credit card?

I use payment cards. Although I know that there are beneficial credit cards specifically for travelers, with useful features. Here, perhaps, my principle plays a role: to spend as much as earned.

How often do you buy online? What is recommended to buy on the Internet and what is not?

I have almost no time for this. There is a family that helps to spend money. (Laughs.) My family regularly buy something online. And such things as booking a hotel, buying tickets for a plane or train – have long become familiar to us.

What I wouldn't buy online is probably furniture: a bed, armchairs, chairs — you have to make sure they are comfortable. And: be sure to buy only on those websites which you trust.

Was there an unusual situation in your life when some banking service helped you out?

During my first trip abroad with my wife, the money on the PUMB card was written off twice during the payment. There was still some small amount of cash with me, but not enough for the rest ... The problem was solved with a call to the office where I was served – the money was promptly returned to the card. This was the case when the human attitude on the part of the bank helped not to spoil the rest.

Have you ever encountered an attempt of card fraud?

Yes, I repeatedly received messages from fraudsters about blocking the card. I know these schemes to wheedle confidential information, so I do not get on their hook.

Is there a financial service that you would like to receive today, but the bank does not provide it yet?

Interesting question. (Thinking). I would like not to think about the map or even the phone at all, but to pay using fingerprint recognition, face contour or voice recognition. I read that such technologies are already being implemented abroad.

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